Internal Audit. Expect more.
Do we expect enough of Internal Audit today? What does the future of Internal Audit look like?
In an environment of transformation, increasing complexity and an evolving risk landscape, Executives and Boards are looking to Internal Audit for confidence and insights. For many Internal Audit functions, this means evolving to keep pace with the needs its stakeholders, and business.
Internal Audit is not only about ticking boxes. It’s a strategic opportunity for every organisation. It’s a function that has the potential to drive innovation and productivity, to share insights and possible solutions, and deliver a return on its investment.
Should you expect more from Internal Audit? Audit your Internal Audit to find out.
Staying the Course toward True North
Despite strong ambition from CAEs to grow their value to the organisation, PwC’s 2017 State of the Internal Audit Profession study shows Internal Audit is losing ground in trying to keep pace with stakeholder expectations. In the five years we’ve been tracking this sentiment, 2017 represented the lowest stakeholder perception of Internal Audit value.
Stakeholders, however, remain committed to wanting Internal Audit to play a greater and more value-added role. While few (7%) consider IA to be a trusted advisor today, nearly half (48%) want Internal Audit to be a trusted advisor to the business within the next five years.Read full report